Thursday, 26 December 2024

Elon Musk Jokes Bill Gates Could Go "Bankrupt" On Backfiring Short Tesla Bet

ZeroHedge
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The rivalry between two of America's top billionaires, Elon Musk and Bill Gates, continued on Tuesday morning when Musk jokingly suggested on X that Gates' alleged short position on Tesla might lead to his financial demise. 

"If Tesla does become the world's most valuable company by far, that short position will bankrupt even Bill Gates," Musk wrote on X, referring to a multi-billion dollar equity short Gates put on Tesla a couple of years ago. 

According to Walter Isaacson's 2023 biography of Musk, Gates held an undisclosed short position in Tesla, allegedly worth billions. 

In late 2023, Musk wrote on X: "Gates placed a massive bet on Tesla dying when our company was at one of its weakest moments several years ago. Such a big short position also drives the stock down for everyday investors," adding, "To the best of my knowledge, Gates *still* has that massive bet against Tesla on the table. Someone should ask him if he does." 

Musk noted, "The lack of self-awareness and hypocrisy of Gates who had the nerve to ask me to donate to his mostly window-dressing environmental causes, while simultaneously aiming to make $500M from Tesla's demise, boggles the mind ..." 

Gates was confronted about the bearish Tesla short in a 2021 CNBC interview... 

There is still no word on whether Gates has doubled or tripled down - or possibly cut his Tesla short bet.

Tesla shares have surged 62.5% this year, primarily due to President-elect Donald Trump's victory and Musk's increasing relationship with the incoming administration. 

In terms of wealth, Bloomberg data shows Musk is number one on the Billionaire Index at $376.2 billion, while Gates is number six at $165.9 billion. 

Regarding Tesla, the company's market capitalization is nearing $1.3 trillion, and it ranks eighth on the list of the world's most valuable companies.

Morgan Stanley's Adam Jonas wrote in a June note that Tesla is much more than an EV company, with tailwinds in the powering up America theme in the era of AI data centers. 

Naomi Seibt, a German teen who denounces the woke agenda, wrote on X, "Can't imagine a greater form of retribution than bankrupting the vaccine vegan." 

Another X user asked: "Why would someone who constantly talks about protecting the environment short the stock of one of the most environmentally friendly companies on the planet?" 


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